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ITEM: |
INFORMATIONAL
ITEMS/STAFF REPORTS |
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23. |
REPORT ON FIRST QUARTER
FINANCIAL ACTIVITY FOR FISCAL YEAR 2004-2005 |
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Meeting
Date: |
November 15, 2004 |
Budgeted: |
N/A |
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From: |
David A.
Berger, |
Program/ |
N/A |
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General
Manager |
Line Item No.: |
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Prepared
By: |
Rick
Dickhaut |
Cost Estimate: |
N/A |
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General Counsel Approval: N/A |
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Committee Recommendation: The Administrative Committee reviewed this item on November 3, 2004 and recommended _______________. |
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CEQA Compliance: N/A |
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SUMMARY: September 30, 2004 marked the conclusion of the first quarter of the District's 2004-2005 fiscal year. Exhibits 23-A and 23-B are graphs showing both budgeted and actual year-to-date revenues and expenditures for the period. Exhibit 23-C presents the same information in a table format. The following comments summarize District staff's observations.
REVENUES
The revenues graph compares actual revenues received during the first quarter of Fiscal Year 2004-2005 to the amounts budgeted for that same time period. As the graph shows, revenues for permits were 177 percent over the budgeted amount due to the large number of permit requests generated in response to the building moratorium that was proposed by Cal-Am. Connection charges were just slightly more than the amount budgeted for the period, while the “Other” category is about 172 percent over budget due to unanticipated miscellaneous revenues. Interest revenues for the period were approximately 46% under budget, mostly due to the timing of the actual receipt of the funds, i.e., interest on funds invested with the Local Agency Investment Fund are only paid on a quarterly basis. User fees collected were approximately 19% under the budgeted amount due to the fact that the year-to-date revenue does not include receipts for the month of September. No tax revenues or grants were anticipated or received during the first quarter. Project reimbursements receipts typically lag behind the budgeted amount and were only 28% of the amount budgeted for the period. Overall, total revenues received during the first quarter of the fiscal year represented 67% of revenues budgeted for the same period.
EXPENDITURES
Expenditure
activity as depicted on the expenditure graph is similar to patterns seen in
past years. Personnel expenses are 19% below budget, with the majority of the
variance attributable to the unexpended personnel contingency of $63,100. Expenditures for supplies and services were
about 18% percent over budget for the period.
There were no capital assets purchases during the period. Expenditures for Project costs fluctuate
throughout the year and were only about 30% of the budgeted amount for the
quarter. The “Other” category includes
items such as $159,600 for payback on the
23-A Revenue Graph
23-B Expenditure Graph
23-C Revenue and Expenditure Table
U:\rick\word\staffnotes\2004\111504\firstqtrfinactivity.doc